-The Telegraph New Delhi: India is no longer the fastest-growing major economy in the world: it has lost its bragging rights to China. The Central Statistics Office (CSO) today put out its provisional estimates on national income that showed real GDP growth had tumbled to 6.1 per cent in the fourth quarter (January-March). That is considerably slower than the 6.9 per cent growth that the resurgent Chinese economy racked up during the same...
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The Indian economy finally bares its demonetisation scars -Manas Chakravarty
-Livemint.com Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at constant prices fell to a mere 5.6% in the fourth quarter of fiscal year 2017 (FY17), clearly showing the scars of demonetisation on the economy. That’s not all. The headline growth...
More »Norms to protect customer in fraudulent transaction soon: RBI
-PTI MUMBAI: Reserve Bank will soon come out with final guidelines on customer protection which would limit customers liability in case of unauthorised electronic banking transactions, RBI deputy governor S S Mundra said on Tuesday. Last year in August, RBI had issued draft circular on limiting liability of customers in case on fraudulent banking transactions, resulting in debits to their accounts or cards. RBI had asked comments and suggestions on the same. "Based...
More »GST rate: Fertilizers to come under 12% tax slab, prices likely to rise -Sayantan Bera
-Livemint.com The GST Council has fixed a 12% GST rate on fertilizers, up from the current 4-8% rates, depending on raw materials used and in which states the products are sold New Delhi: India’s landmark tax reform, the goods and Services tax (GST), may not be good news for farmers. Retail prices of commonly used fertilizers and micronutrients are likely to increase, not only raising the cost of cultivation but also leading...
More »The bleak new academic scenario -Krishna Kumar
-The Hindu Liberalisation has eroded the institutional capacity to train young people who might pursue liberal values The other day, a student asked me what exactly the word ‘liberal’ mean. She wanted to know whether ‘liberalisation’ promotes ‘liberal’ values. She had noticed that institutions of higher education, which are supposed to promote liberal values, were finding it difficult to resist ideological and commercial pressures triggered by the process of economic liberalisation. So,...
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